Officially devalue? Only an ignoramus would even come up with such a phrase. The dollar, like the euro, the yen, the swissie, and the pound, floats. There is no officially set price. Really, the ignorance shown here just gets grating sometimes.
Also, regardless of what crap-for-brains says, it's not mathematically correct to say that gold would double if the dollar halves. Gold also floats. Therefore, where it lands in such an event is undefined, mathematically.
If you think inflation is coming, don't pay off your debt. Use your cash to buy stuff with. If you think deflation is coming, pay off everything and lend money to someone (buy bonds, etc). The rule of thumb is simply this: inflation is good for borrowers, while deflation is good for lenders. To do it in a slightly more structured manner, assign your own personal probabilities to the two outcomes (inflation and deflation). That will allow you to calculate the expected value of your holdings. Adjust your asset mix to maximize the expected value. It's easy to create a spreadsheet to do this.
If you are in any kind of debt it is always better to pay it off. Buy gold silver. Get rid of the cash this is what is under threat with inflation. Buy tinned food.
Indeed, although I'd start with guns 'n ammo. You'll be able to get whatever else you may need in due course.
my earliest published $1300 price target for gold was April 2006, the most recent is the thread 'Gold to $1597' and my until now unpublished top for gold is $1364 A.J. Frost co-author of the 'Elliott Wave Principle: Key to Market Behavior' â via Prechter, excerpt from 'The Elliott Wave Theorist': [edits] "I spoke with AJ Frost last week, and he's still sticking with his prediction that he has held since 1987, that gold will ultimately soar to $1000 an ounce . . . " August 1990 Frost died in 1999 at the age of 91, maybe he's looking down and smiling